TBH Global Asset Management LLC Invests $283,000 in The Boeing Company $BA

Key Points

• TBH Global Asset Management LLC has acquired a new stake in Boeing, purchasing 1,350 shares valued at approximately $283,000.
• Multiple institutional investors increased their positions in Boeing, with holdings including Vestcor Inc and National Pension Service raising theirs by 9.0% and 19.6%, respectively.
• Boeing's earnings report indicated a loss of ($1.24) per share, missing estimates, but revealed a revenue increase of 34.9% year-over-year to $22.75 billion.

TBH Global Asset Management LLC purchased a new stake in shares of The Boeing Company (NYSE:BA - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,350 shares of the aircraft producer's stock, valued at approximately $283,000.

Several other large investors also recently made changes to their positions in BA. Vestcor Inc raised its holdings in Boeing by 9.0% during the 1st quarter. Vestcor Inc now owns 14,489 shares of the aircraft producer's stock worth $2,471,000 after purchasing an additional 1,195 shares during the last quarter. National Pension Service increased its position in shares of Boeing by 19.6% in the 1st quarter. National Pension Service now owns 1,333,131 shares of the aircraft producer's stock valued at $227,365,000 after buying an additional 218,049 shares in the last quarter. Wynn Capital LLC acquired a new stake in shares of Boeing during the first quarter worth about $584,000. MFG Wealth Management Inc. acquired a new position in shares of Boeing in the first quarter valued at approximately $2,125,000. Finally, Kelman Lazarov Inc. bought a new stake in Boeing in the 1st quarter valued at $262,000. Institutional investors own 64.82% of the company's stock.

Insider Buying and Selling

In related news, Director Mortimer J. Buckley purchased 2,200 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The shares were bought at an average cost of $226.10 per share, with a total value of $497,420.00. Following the acquisition, the director owned 2,200 shares of the company's stock, valued at $497,420. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP David Christopher Raymond sold 3,771 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $229.94, for a total transaction of $867,103.74. Following the transaction, the executive vice president owned 35,873 shares of the company's stock, valued at approximately $8,248,637.62. This represents a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.09% of the company's stock.

Boeing Price Performance

Shares of NYSE:BA opened at $221.28 on Monday. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $242.69. The stock has a market capitalization of $167.32 billion, a price-to-earnings ratio of -13.40 and a beta of 1.48. The company's 50 day simple moving average is $226.53 and its 200 day simple moving average is $203.45.

Boeing (NYSE:BA - Get Free Report) last issued its earnings results on Tuesday, July 29th. The aircraft producer reported ($1.24) earnings per share for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.32). The business had revenue of $22.75 billion during the quarter, compared to analysts' expectations of $20.13 billion. During the same quarter in the previous year, the company posted ($2.90) earnings per share. The business's quarterly revenue was up 34.9% on a year-over-year basis. As a group, analysts anticipate that The Boeing Company will post -2.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Barclays increased their price objective on Boeing from $210.00 to $255.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Citigroup reaffirmed a "buy" rating on shares of Boeing in a research report on Monday, July 28th. The Goldman Sachs Group set a $212.00 price target on Boeing and gave the stock a "buy" rating in a report on Thursday, June 12th. Rothschild & Co Redburn raised shares of Boeing from a "neutral" rating to a "buy" rating and set a $275.00 target price for the company in a report on Friday, June 27th. Finally, Bank of America upped their target price on Boeing from $260.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $230.77.

Boeing Company Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments.

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